Why haven't gas prices gone down?

[Analog-1]

3.83 In SE Mich.

 

[fdcg27]

Around $3.12 or so in this area at the lowest priced stations and $3.15 at Costco, so more than Kroger at their $3.16 since you always get .03 off on your Kroger Plus membership.
Speedway is already making the breakout move to much higher prices, as high as $3.99, maybe based upon current developments in the Middle East.

 

[Dave Hess]

In a bit of a loop, this is also influencing the conflict over the strait. Strikes were halted until 1 hour after the market closed on Friday and then an announcement of return to ceasefire came through 1 hour before the market futures were set to start yesterday.

Agreed though. If this continues and reserves do start running low, we'll see a lot more volatility in the market.

EDIT: Current US oil reserves stand at 331 million barrels, down from 415 million barrels in February. We consume ~21 million barrels a day against a production of ~13.5 million barrels a day.

We are going to be running on fumes soon.

90% of people are in LaLa Land and believe all the lies……